Phytoceramides Market: Overview
Ceramides are natural fatty acids (i.e., fat or lipids) in the long-chain which make up about 50% of the external skin layer (the epidermis). Since "phyto" indicates plant, plants contain only ceramides. Phytoceramides refer to ceramides derived from plants, in comparison to ceramides derived from synthetics or animals, used to refill damaged natural skin ceramides.
The structure of synthetic and phytoceramides is close to that found in the skin. Although synthetic ceramides are possibly more common, recently, because of their so-called anti-aging ability, whereas phytoceramides have become more widely perceived as skin care ingredients.
Low ceramides allows moisture to escape the skin and allows irritants such as air contaminants to enter the skin. The immune system can observe these things like irritants in the skin and develop a touch or skin allergy. This can lead to dry, raw, inflamed and flaky skin, especially in persons with active eczema.
All kinds of phytoceramides avoid moisture loss by strengthening the barrier functions of the skin instead of introducing moisture to the skin. Despite presence of bundle of ceramides products in the market, phytoceramides have gained significant traction in the market over past half-decade.
Here, these phytoceramides comes handy as they act as ceramides and retain the moisture in the skin, thereby rejuvenating the skin and overall giving it a pleasant appeal. They are available in creams and supplement form and also are naturally found in certain foods such as spinach, soybeans, potatoes, corn and many others.
Owing to the aforementioned factors, phytoceramides is anticipated to grow at a higher CAGR over medium-run and at a moderate growth over long-run forecast period.
Phytoceramides Market: Dynamics
The global cosmetics industry is estimated to be around US$ 525 Bn in 2020 and dietary supplement market is estimated to be around US$ 140 Bn in 2020 and phytoceramides based cosmetics as well as dietary supplement products have been a key contributor to the overall market growth. The positive industry growth is likely to be further supported by factors such as the ageing population, and shifting lifestyles.
Rising dietary add-ons and the transition to healthier lifestyles of the population can further boost phytoceramides demand for nutritional supplements and food additives. In addition, there is provision for a positive influence on the global phytoceramides market owing to the booming health industry. Increased spending on nutraceuticals and additional skin rejuvenation supplements is likely to boost the overall phytoceramides demand.
Apart from the aforementioned application of the phytoceramides in the nutraceuticals and cosmetic industry, pharmaceutical sector is anticipated to become an emerging segment over long-run forecast period. Rising speculations of the product in pharmaceuticals and penetration of the product as an intermediate to bolster the stance of the phytoceramides.
COVID-19 Impact Insights
The rapid increase of COVID-19 cases to a pandemic has badly affected the market trends and categories of cosmetics as well. COVID-19 pandemic has forced countries to impose lockdowns across the globe, to try and flatten the global active cases curve. In addition, measures worldwide regulating people's movement have created disruptions in the supply of personal care goods.
The production stoppages caused by the pandemic would put tremendous stress on the operating expenses on the manufacturing standpoint. COVID-19 pandemic has presented massive disruptions in the demand-supply equilibrium across multiple industries, leading towards economic losses at a global level. This has disrupted almost every market and Phytoceramides market has also been affected largely.
The plant shutdowns in Europe, Asia and North America in the second quarter of 2020, along with the move towards work from home culture has reduced the consumption of skin-care and beauty products leading to a drop in overall production of cosmetics and dietary supplements in turn of Phytoceramides.
Moreover, these lockdowns were not properly implemented in many countries leading to a spike in the overall active cases in the region. It is almost a year since the first strain of COVID-19 was detected and now there are news stating that, there is a third wave of COVID-19 with newer cases being reported every day.
This has led to multiple newer forms of weekly lockdowns and further deteriorating the supply chain flow which just seemed to have been started in a phased manner. Besides, reopening of the industries has opened the gates to the manufacturers to restart the supply phytoceramides.
On the other side of the COVID implications coin, Tier-2 manufacturers are struggling to manufacture and channel the product in the market owing to the higher marginal loss and partial demand from the market. Considering the aforementioned factors, market is set to resuscitate completely by Q3 of FY2021.
Asia Pacific region is supposed to be the growth epicenter during the forecast period owing to countries like Japan having larger percentage of population being in the older age bracket. As the nation's huge geriatric population base, requiring skin anti-aging products, Japan is considered one of the major consumers of ceramides.
Moreover in countries like India, with a growing number of millennials preferring to opt for cosmetics with anti-ageing and SPF benefits are preferring phytoceramides based creams and this is supposed to boost the demand arising from a larger population based out of India.
Additionally, considering the rise of geriatric populations in Germany, Great Britain, France and Spain, Europe is predicted to have a large income share in the global economy. However, lower market growth is expected to lead to slow developments coupled to a small application base in Europe.
In North America, ceramide demand is projected to be driven by a positive regulatory environment coupled with rising demand for natural and organic cosmetics. The development of the personal care industry in Brazil and Argentina is anticipated to have substantial growth in Central and South America over the next few years.
Further, owing to skin related benefits offered by phytoceramides, such as reducing dryness, soothing irritation and reduce the appearance of fine lines and wrinkles, form functional foods and food additives, the overall phytoceramides market is expected to rise at a moderate CAGR during the forecast period 2021-2031.
Phytoceramides Market: Key Players
Being a fragmented market, players lack dominance over global market and face stiff competition from other regional and private label players along with already existing global players such as
- Sports Research
- Hamilton Healthcare
- Nusa Pure
- Life Extension
- Natural health Supplies etc.
In the sense of the rapid growth in the pharmaceuticals, healthcare, and cosmetics markets in many developing regions, the majority of the world's leading phytoceramides manufacturing companies target developing regions to increase manufacturing and distribution capability.
Some of the phytoceramides market players have been following a combination of organic and inorganic strategies to develop competitive advantage for a longer run in the phytoceramides market. However, local manufacturers are providing a calculated threat to global players of phytoceramides market, especially from Asia, since local sourcing by end-product manufacturers has started to become routine.
Furthermore, certain players are investing in research and development activities related to the changing consumer demand towards organic and plant based products. This is supposed to boost the sales of phytoceramides over long run.
The phytoceramides research report presents a comprehensive assessment of the phytoceramides market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. Phytoceramides report also contains projections using a suitable set of assumptions and methodologies. The phytoceramides market report provides analysis and information, according to market segments such as geographies, form, end-use and sales channel.
On the basis of form, phytoceramides market has been segmented as follows:
On the basis of End-Use, phytoceramides market has been segmented as follows:
- Hair care
- Skin care
- Food & Beverage
On the basis of sales channel, phytoceramides market has been segmented as follows:
- Pharmacies & Drug Stores
- Modern trade channels
- Supermarkets & Hypermarkets
- Online Channel
On the basis of region, phytoceramides market has been segmented as follows:
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
The phytoceramides Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Phytoceramides Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, BENELUX, Italy, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, Australia and New Zealand , Rest of South Asia & Oceania)
- Middle East and Africa (GCC Countries, South Africa, Northern Africa, Turkey, Rest of MEA)
The phytoceramides report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The phytoceramides report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The phytoceramides report also maps the qualitative impact of various market factors on market segments and geographies.
The Phytoceramides Market Report Highlights:
- A detailed overview of the parent market
- Changing phytoceramides market dynamics in the industry
- In-depth phytoceramides market segmentation
- Historical, current and projected phytoceramides market size in terms of volume and value
- Recent industry trends and developments in phytoceramides market
- Competitive landscape of Phytoceramides market
- Strategies of key players and products offered in phytoceramides market
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on phytoceramides market performance
- Must-have information for phytoceramides market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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